These findings are not limited to academic studies alone. In his recent book “Rich, intelligent, happy, “Veteran financial journalist William Green attracts many hours of interviews with highly successful investors, and, as you would expect, a recurring theme is that these people work hard, and do out-of-the-box research. Do and crowd outside.
But a contradictory subtopic also emerges: how seriously his subjects take breaks, take time out and make room in their lives for a certain distance from the 21st century work cycle throughout the day, every day. Many, including Charlie Munger, Warren Buffett’s long-time collaborator – make a point to make time for calm and contemplation. For Mr. Munger, this meant ignoring the news and crowd noise coming to the market and instead exercising extreme patience.
In business today
May 28, 2021, 12:54 pm ET
For one of Mr. Green’s interviewees, Laura Geritz, chief executive of Rondure Global Advisors, means taking time out to sit by a stream and magazine. Developing “a regular meditation practice,” Mr. Green notes, has become “a mission-critical habit for many successful investors.”
Mr. Green said in an interview, this is not an idea or hobby or personal health strategy. It is a reflection of the “ruthless pragmatism” that made his subjects successful in the first place – in the eternal hunt for the edge, he found the rest of his morality. It is almost a “countercultural” move, Mr. Green said. “I don’t think you’ve thought deeply without structuring your life in this way,” he said, at a time when everyone is constantly pinging and reacting to short-term stimuli.
Similarly, Mr. Fitch and Mr. Frenzel point out in their book that famous athletes like LeBron James take rest and recovery quite seriously, treating it as part of their diet, not to avoid it. The same should be true for many professionals and knowledge workers, Mr. Fitch said. Too many managers and employees are stuck in a dated mindset that rewards long-term over all others. “The amount of input does not matter,” argues Mr. Fitch. “This is the quality of the output.”
Micro dosage discount
The good news is that at least some companies are starting to take breaks seriously. To begin with, Mr. Fitch said, some are accepting that unlimited payback time, a popular gesture among employers who have tried to resolve the issue, doesn’t really do the trick. It can feel like just another responsibility, and nobody wants to be an employee who takes a vacation most days.
Recently, including companies Linkedin And Robox Used as a “spring break” period with mandatory leave for all or most employees. Such actions that emphasize the value of time represent a “profound” shift, Mr. Fitch said. He and Mr. Frenzel, both tech entrepreneurs, are flirting with a software tool that will help HR departments discharge workers.